Texas Bad Credit Mortgage
Bad credit mortgage lenders in Texas are available to assist with first time
home buyers who have poor credit scores or can't document their income. Take
advantage of money available to qualify for a home purchase loan or to
refinance your home. People with very bad credit usually are turned away
from traditional lenders such as your local banks.
Realize that since you have bad credit, your mortgage rate will be a bit
higher. Typically can be 1-4% higher than you were to have good credit. The
actual interest rate will depend on your financial history, salary, amount
of down payment and other important factors. Don't get fooled into some sort
of ARM mortgage because you can't afford a home with a traditional 30 year
In fast appreciating states, going with a short term ARM may be good, but in
a state as Texas where historic appreciation rates have been between 1-5%,
well below the national average, an ARM is definitely not a good idea unless
you only plan to stay for a few years.
Let us do the work for you and find a mortgage broker who deal with bad
credit borrowers. There are tons of Texas mortgage companies who can help
you refinance or buy your first home, so don't spend another moment thinking
whether or not you can afford a loan.